学科分类
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15 个结果
  • 简介:Studiesontherelationshipbetweencorporaterealestate(CRE)andeconomiccyclesareverythin,especiallyfromdevelopingcountries,suchasSouthAfrica.More,inpractice,mostfirmshardlydedicateenoughresourcestoCREdivisions.Thisleadstothatmanagementnotfullymaximisesthewealthofshareholders.Thisstudyusesmulti-linearregressiontotesthowGDP,interestrate,andtotalcorporatecostsreacttochangesinCRE.ThesampleismadeupofbluechipfirmslistedontheJohannesburgStockExchange(JSE).Theresultsrevealmixedbagsolutions-forcertainfirms;GDP,interestrate,andcorporatecostsarestatisticallysignificantandviceversa.More,thisanalysiscanbereplicatedtoothersimilarindustriesandindicesaroundtheworld.

  • 标签: CORPORATE real ESTATE economic CYCLE INTEREST
  • 简介:Thispaperinvestigatesthelead-lagrelationshipbetweenthestockindexfutures(knownasFKLI)anditsunderlyingindex,theKualaLumpurCompositeIndex(KLCI)intheemergingMalaysianmarket.Using15-secondintervaldata,cross-correlation,andthepartialadjustmentmodel,wefindabi-directionalasymmetriclead-lagrelationshipandthattheKLCI’sleadoverFKLIismuchstronger.TheevidencealsosuggeststhattheKLCIreturnsover-reacttoinformation,moresooncethintradingeffectsareconsidered.Overall,theevidencessuggestthattradersprefertoexploitstockspecificinformationintheunderlyingmarketdespitetheadvantagesoftradingtheindexfutures.

  • 标签: lead-lag RELATIONS index FUTURES EMERGING market